Financial and production data of SOCAR are shown below:
Graph 1: Economic indicators of SOCAR in 2013-2015 44,45
Revenues (million manats):
Total profit (million manats):
Budget payments (million manats):
Share capital (million manats):
Graph 2: Oil and gas production of SOCAR in 2013-2015 46,47
Oil production of the Republic of Azerbaijan (percentage):
Gas production of the Republic of Azerbaijanı (percentage):
Before the establishment of SOCAR Trading, SOCAR initially exported its crude through Georgia and Russia, until the much larger BTC pipeline was completed in 2005. The BTC allowed SOCAR access to the Mediterranean through Ceyhan, Turkey and allowed it to load Very Large Crude Carriers which gave SOCAR the opportunity to deliver Azeri crude to a wider range of customers, in the Mediterranean area, as well as further out to Asia and America.
SOCAR Trading was incorporated in December 2007 as the marketing devision of SOCAR with a mandate to market Azeri barrels produced from the Azeri-Chirag-Guneshli field and other surrounding fields in Azerbaijan.Azeri crude is delivered through mainly two pipelines: the Western Route Export Pipeline in Georgia and the Baku-Tbilisi-Ceyhan pipeline in Turkey.
SOCAR Trading has successfully loaded near 1 billion barrels of Azeri Light crude on a global scale since its establishment in 2008. As a trading company, SOCAR Trading was able to successfully manage the sale of Azeri crude through increased pricing flexibility and the ability to adapt to volatile global needs.48 SOCAR Trading facilitates the sale of crude oil volumes produced by SOCAR through Jeyhan port and transacts a wide range of third party crudes. The Company made efforts to develop business in Africa and Asia through long term relationships, the company is able to leverage its position as a major supplier of Azeri crude as well as its status as a state owned company to gain access to several opportunities worldwide.
Information on financial performance and production data of “AzerGold” CJSC was not included in this report due to fact that the company did not have any activity in 2015.
